Janover (JNVR), the real estate-focused Fintech Company with a Solana (Sol) Treasury strategy, has been renamed Defi Development Corp and bought another $ 11.5 million worth of Sol Tokens, the company said Tuesday.
The relocation brings the company’s total sun -holdings to 251,842, including poor salaries, says the company. It is appreciated at about $ 36.5 million, with sun currently trading about $ 145.
JNVR shares fell by 2.5% today at $ 38.3, well under last week’s top just shy on $ 80. However, the stock is still over 800% since he adopted the Crypto Treasury strategy. Sol advanced almost 5% over the last 24 hours, with the wider crypto market climbing higher.
The purchase was part of the Boca Raton, Florida-based company’s new crypto effort to place itself as the first US-listed company with a state strategy centered on Solana and its native token Sol.
As part of the strategy, the company tries to gather sun and operate one or more validators to secure blockchain. The pivot happened after a team of former leaders of Crypto Exchange Kraken bought a majority share in the company earlier this month.
Read more: Janover takes side from Saylor PlayBook, which doubles Sol Stack to $ 20M as the stock rises 1700%
The purchase was made using funds from a financing of $ 42 million around the company completed earlier this year. Based on the latest figures, each share of the company represents 0.17 solar, an increase of 62% from its last crypto purchase, according to the press release.
The company will also change its ticker to DFSV at Nasdaq Exchange on a future date to reflect its new name.
Last week, the company announced a strategic partnership with Kraken with plans to delegate part of Exchange’s Sol Holdings to realize on validators run by Defi Development Corp.
